Asia

India overtakes the US to become the world’s second largest smartphone market

Move over America, India is now the world’s second largest smartphone market. That’s according to a new report from Canalys which claims smartphone shipments in India crossed the 40 millio

Southeast Asian e-commerce startup Carousell closes $70-$80M Series C round

Singapore-based startup Carousell is in the money this week after it closed a Series C round of between $70-$80 million, two sources with knowledge of the deal told TechCrunch. Started by three gradua

The deal that never was: OYO says it didn’t acquire rival ZO Rooms after all

There’s closure around one of the most curious tech deals out of India in recent times, but it isn’t the conclusion most will expect. OYO Rooms, the budget hotel network that raised $250 m

LG’s mobile business can’t stop losing money

Korea electronics giant LG continues to show the world that making a profit, or even breaking even, from selling smartphones is no easy thing. LG Mobile has posted just one quarter of profitability ov

Snapcart raises $10M to shed light on consumer spending in emerging markets

Taking on a giant like the $15 billion research firm Nielsen is no easy task. But tucked away in Southeast Asia, Snapcart is a two-year old company that is making progress by shining light on the bla

Uber rival Grab finally fills its CTO-sized hole with former Googler

Grab, Uber’s chief rival in Southeast Asia, finally has a new CTO more than two years after its previous one departed. Today the company introduced Theo Vassilakis, a former Googler who also sp

Asian travel platform Klook raises $60M with backing from Goldman Sachs

Sometimes, for growth stage startups raising money, when it rains it pours. That’s the case for Klook, a Hong Kong-based travel startup that specializes in helping travelers book trip activitie

Chinese social media giant Weibo is raising $700M to fund acquisitions

Weibo, the Twitter-like Chinese social network that is profitable unlike Twitter, is raising $700 million as it looks for acquisitions to continue the rocket ship growth its business has seen in 2017.

Tesla reportedly made deal to open a manufacturing facility in Shanghai

Tesla has reportedly made a deal with the government in Shanghai to open up a manufacturing facility in the city’s trade-free zone, the Wall Street Journal reports. Foreign car-makers traditiona

Southeast Asia gaming and e-commerce firm Sea ends first day on NYSE up 8%

Sea, the gaming and e-commerce company holding the first major U.S. IPO from a Southeast Asian tech firm, had a bumpy start to life on the NYSE after closing the day up around eight percent on its lis

Grab raises $700M in debt to add more drivers to its ride-hailing service in Southeast Asia

Grab is in the process of raising $2.5 billion for it ride hailing service in Southeast Asia, but that hasn’t stopped the Uber rival from tapping banks for $700 million in debt facilities to dev

Southeast Asia’s Sea, formerly Garena, to raise upwards of $884M in US IPO

Sea, the Singapore-based digital entertainment firm formerly known as Garena, is set to raise upwards of $884 million when it lists on the New York Stock Exchange Friday under ‘SE’. The co

When $100BN is not enough… Softbank is planning Vision Fund sequels

Softbank looks to be preparing follow on raises to its first ~$100BN Vision Fund. Speaking to Nikkei today CEO Masayoshi Son said: "The Vision Fund was just the first step, 10 trillion yen is simpl

Chinese local services giant Meituan-Dianping raises $4B led by Tencent and Priceline

There’s a huge funding round from one of the top local services companies in China. Meituan-Dianping, a company formed by a multi-billion dollar merger in 2015, said today that it has raised a $

WeChat begins censoring users ahead of China’s National Party Congress

Expect to see plenty of censorship news coming out of China over the next week. The country's National Congress is a hugely influential political summit that takes place every five years, and includes

Credit giant Experian leads $30M investment in India’s BankBazaar

Indian credit marketplace BankBazaar has pulled in $30 million in fresh funding led by Experian, the London-headquartered credit giant with a £14 billion ($18 billion) market cap. BankBazaar seems to

Indiez aims to raise the quality of freelancer platforms

Indiez is an up-and-coming freelance service that aims to bring a higher standard to a world that is dominated by the likes of Gigster, Upwork and Fiverr by taking a different, team-led approach. Ther

Samsung’s new connected tags monitor pets or kids for a week on a single charge

Samsung has something worth your time if you like to keep tabs on kids, pets or other cherished items. The Korea electronics giant just announced Connect Tag, a small internet-enabled device that trac

IBM is using the blockchain to speed up and simplify cross-border payments

The blockchain has long been seen as a method to quicken (and cheapen) cross-border payments, and now that movement — which includes a number of startups making moves privately — just got

Ola raises $1.1B led by Tencent to fuel battle with Uber in India

It’s been a long while coming but Uber’s chief rival in India is finally raising a big round, and joining the billion-dollar round club at the same time. Ola today announced that it has cl
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